Paradigm Oil and Gas Taps New 4 Million Barrel Reserve
March 04 2014 - 12:00PM
Access Wire
DALLAS, Texas / ACCESSWIRE / March 4,
2014 / Paradigm Oil and Gas, Inc. (Paradigm) (OTC
PINK: PDGO), a leading service provider to the oil and gas industry
with expanding operations in oil and gas production, announced
today that full scale oil production will begin from its newly
acquired wells in Louisiana, situated on the massive Tuscaloosa
Marine shale formation.
Sprawling across 2.7 million acres of southern Louisiana and
Mississippi, the Tuscaloosa Marine shale formation is a virtually
untouched oil and gas reserve believed to contain nearly 7 billion
barrels of recoverable oil.
http://www.youtube.com/watch?v=lQEkXpdJlYA
http://video.foxbusiness.com/v/3266824226001/mississippi-governor-this-is-the-year-of-the-tuscaloosa-marine-shale/#sp=show-clips
Geologists estimate that Paradigm’s wells sit on a reserve of
nearly four million barrels and the Company reports that free flow
tests conducted in late 2013 produced 242 barrels in one day.
“We expect the oil under pipe to keep these wells running for years
to come,” stated Vince Vellardita, CEO of Paradigm Oil and
Gas. He added, “Another successful low risk, high return
acquisition that is becoming our trademark.”
The new Tuscaloosa Marine properties join Paradigm’s oil
producing wells in Texas and Oklahoma, contributing to
multi-million dollar revenue projections for 2014. Commenting
on the Company’s oil production outlook, Vellardita stated, "After
a very rough winter our wells needed some maintenance, but we
expect to have them all up and producing this month, generating
significant revenue for shareholders.”
Paradigm Oil and Gas also reports finalizing agreements to add
three proven, oil producing wells in West Texas. A formal
announcement detailing this most recent acquisition is expected
next week.
“Paradigm has finalized the last items to conclude our three
year audit. After six months of verifying our 27 leases and
almost 50,000 acres of land and thousands of transactions with site
surveys; we will now be able to file so that we can show and tell
the story of our undervalued company with millions of dollars in
assets and real revenue and continue our road to success and show
our shareholders the value of our company,” stated Vince
Vellardita, CEO of Paradigm Oil and Gas.
Paradigm Oil and Gas welcomes anyone interested in learning more
about the company to visit their new web site at
http://www.paradigmoil.com/.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas Inc. (OTC Pink: PDGOD) Paradigm Oil and Gas
is a leading service provider to the oil and gas industry with
expanding operations in oil and gas production. Paradigm is a
growing oil and gas producer, currently holding 27 leases with
nearly 200 wells. Paradigm has secured and is aggressively
pursuing additional land options that will significantly increase
its oil and gas production capabilities. To be added to
Paradigm's mailing list, please email: Vince@paradigmoil.com
Forward Looking Statements
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks.
Paradigm Oil and Gas, Inc., is a company with limited experience in
the oil and gas industry. At the time of this release Paradigm Oil
and Gas, Inc. lacks the financial capabilities to meet its
financial obligations and its management expects to dilute the
Company's shares to raise the necessary operating capital. Based
upon industry standards Paradigm would be considered highly
speculative and lacks any competitive advantage over its
competition. Additional risks you should consider are that this
list is limited and additional risks not mentioned may apply:
failure to meet Paradigm's financial and contractual obligations,
Paradigm's managerial errors made based upon the Company's limited
experience and knowledge of the industry, commodity risk, acts of
God and regulatory risk. You should consider these factors in
evaluating the forward-looking statements included herein, and not
place undue reliance on such statements.
Contact:
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
Vince@paradigmoil.com
1-727-595-8101
Source: Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas (PK) (USOTC:PDGO)
Historical Stock Chart
From Oct 2024 to Nov 2024
Paradigm Oil and Gas (PK) (USOTC:PDGO)
Historical Stock Chart
From Nov 2023 to Nov 2024
